DGAP-News

flatexDEGIRO's record financial performance beats consensus 2020 - Seite 2

The preliminary financials published today illustrate the Company's enormous ability to monetize customer growth and trading activity on its highly scalable online brokerage platforms. Revenues reached EUR 261 million, an increase of 98 percent over 2019. Due to the strong operating leverage of the online brokerage busines, EBITDA increased disproportional by 139 percent to EUR 98 million. Adjusted for non-cash expenses related to provisions for long-term incentive schemes, the Group's adjusted EBITDA amounted to EUR 114 million (+201 percent) yielding a margin of 44 percent.

"In 2020 we generated an Operating Cash flow per share of more than EUR 6. Based on last year's volume-weighted average price per share of EUR 37.78, this equates to an outstanding operating cashflow yield of 16 percent. The DEGIRO acquisition, where we financed the cash component with our own operating cash flow, without any debt, is a perfect example of how we allocate our cash to maximize stakeholder value," said Muhamad Chahrour, CFO of flatexDEGIRO. "With the envisaged commercial growth, our financial strength and the absence of external financial debt, we are ideally positioned to further expand our unique market-leading position in Europe. I am sure that our investments into long-term, sustainable growth will translate into a further sharp increase of revenues, margins and operating cash flow in 2021 and beyond."

With regard to business development, flatexDEGIRO expects the number of customers to increase to between 1.8 million and 2.0 million by the end of the year. Transactions executed are expected to range between 75 million and 90 million in 2021.

 

Contact:

Achim Schreck
Head of IR & Corporate Communications

Tel. [phone]
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flatexDEGIRO AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

About flatexDEGIRO AG

flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, executing millions of paperless securities transactions per annum. B2C customers in 18 European countries are serviced via the flatex and DEGIRO brands and offered a wide range of independent products at competitive pricing, based on a modern, in-house state-of-the-art technology.